Audit

Audit Assurance

We are committed to delivering high quality audit services designed to deliver real value and meet investor’s expectation which begins with completeness, accuracy and fair presentation of information in your financial statements and disclosures.
We approach your audit with a deep and broad understanding of your business, the industry in which you operate, and the latest regulatory standards. Because we work as a team on-site and off-site we share view and exchange ideas, this has helped in building a formidable team of experts with wide range of experience able to proffer solutions to the most complex audit issues. Our clients are happy with our prompt and professional advices and responses to issues arising during audit.

The quality of our audit services is supported with our technology tool which has aided our personnel in working smarter resulting in quality audit time being saved. Our audit process is automated, with our tool producing audit documentations as required by International Standards on Audit. Our workflows are customized to specific industry allowing us to focus on industry specific requirements related to our client’s business.
Our audit documentations and files are prepared with practice review consciousness, this has been made possible with our advanced and secure technology tools. We take conscious steps to ensure that conflict of interest are well managed. Our client-Audit feedback process allows us to solicit feedback from our client on the overall quality of our audit services.

Financial reporting review

The objective of our review engagement is to enable us to state whether, on the basis of procedures which do not provide all the evidence that would be required in an audit, anything has come to our attention that causes us to believe that the financial statements are not prepared, in all material respects, in accordance with an applicable financial reporting framework.

Agreed upon procedures

Our procedures, unlike others we believe not “a single cap can’t fit all heads”. That is why we employ variety of mean to different ends. Our procedures are design to suit different industrial needs. Since our clients are going to be from various sector of the economy, we design our procedures with different module for different client.
Our client engage us to carry out those procedures of an audit nature to which we and the entity and any appropriate third parties have agreed and to report on factual findings. The recipients of the report form their own conclusions from the report by the auditor.
The report is restricted to those parties that have agreed to the procedures to be performed since others, unaware of the reasons for the procedures may misinterpret the results.

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Audit

There are twelve months in the year, keeping your business in good shape is very important. A good place to start is to reflect on the past year, and get a clear understanding of what success looks like in 2018.
Below are few tips to help business owners in 2018:

Year in retrospect:

It is always good to look back especially on the finance of the company, in other to know where to make adjustment in the New Year. Though it might not be the end of your financial year, it is always good to do review. Such reviews should be carried out on sales receipts, invoice, and bank account details to ensure the figures add up. A good quality accounting software like “Sage Software” makes this easy to do and will do most of the work for you.

Interact with your accountant:

A brief chat with the accountant goes a long way in understanding the true state of the business books of account. Your accountant should give you a rough idea of what your tax will be, which will help in avoiding unpleasant surprises.

Review all goals (Revenue, sales, company, and growth):

Take some time to ask questions as to whether you are achieving the set goals, compare your set revenue to the previous year to check for any achievement. If there are lapses, it might be time to get professional advice from seasoned specialist.
(Check our website we render such services; www.pml.com.ng)

Reminder on tax law and filing deadline :

Always ensure you check updates on tax laws and regulations because it changes on a regular basis, the tax calendar can be placed on your table. It’s always good to know when to file and pay taxes.

Find out what customer think :

Feedback from customers is a great way to improve any product or service. In the New Year, what could be done better, strategies on getting and sustaining clients should efficiently be the target.
If only small business owners resolve to manage their account well and plan business finances carefully, there won’t be stress at the end of each year.
To achieve this, get help from an accountant or financial advisor like PML Advisory. You can visit our website for more details about our product and services. Click here to visit…. www.pml.com.ng